Biggest IPOs of 2015, including Aldermore, The Gym Group, Shawbrook, Worldpay and Auto Trader, have beaten the FTSE 100’s performance December 2, 2015 The volatile markets this year have not been ideal for company flotations. But despite this, the 28 biggest IPOs in the UK this year have beaten the FTSE 100 by 21.2 percentage points, generating an average return of 17.2 per cent according to Deloitte An investment of £1,000 in each of the 28 IPOs would now be worth £32,811, whereas a £1,000 investment [...]
Pace’s share price surges as US Department of Justice closes investigation into merger with Arris December 2, 2015 Pace, the set-top box maker, helped lift the FTSE 250, with shares rallying after the US Department of Justice (DoJ) closed its investigation into Arris' acquisition of the company. Pace's shares rose 7.61 per cent to 435.35p in early afternoon trading. The DoJ had previously requested information and was investigating the combined businesses position in "optical transmission", which had [...]
Marks and Spencer loses appeal against former landlord BNP Paribas December 2, 2015 You know that times are tough for retailers when they are prepared to fight for every penny they could put back in the piggy-bank. Marks and Spencer (M&S) has today lost a long-running battle against its former landlord BNP Paribas after the Supreme Court dismissed its appeal to claw back £1.1m of rent it claims it overpaid. In July 2011, [...]
Numis posts record £55.6m equity issuance and advisory revenues despite stock market volatility December 2, 2015 Numis chief executive Oliver Hemsley told Morning Wire old fashioned voice-broking and research gave the mid-sized brokerage an edge over larger banks as it reported record equity issuance and advisory revenues in its full year results today. Numis share price was up 1.61 per cent by mid-morning, to 272p, having dropped 1.18 per cent to 264.6p at the open. [...]
Saga’s share price slumps after its largest shareholder sells 13 per cent stake December 2, 2015 Saga's share price flopped in mid morning trading after it was announced its largest shareholder was selling a stake in the company. Stock in Saga sank 5.28 per cent to 201.05p per share, making it the second biggest faller on the FTSE, behind Moneysupermarket, which fell 6.88 per cent. Shares in Saga dropped after Acromas Bid [...]
Sage Group’s share price slides despite hitting targets December 2, 2015 Sage Group's share price led the fallers on the FTSE 100 this morning, despite posting strong results and indicating further growth. Sage's share price was 4.06 per cent lower at 554.25p per share in mid-morning trading, after it posted revenue growth of six per cent for the year to the end of September. It said it expects [...]
Hedge fund BlueCrest Capital Management has ditched all of its customers December 2, 2015 What was once one of Europe's biggest hedge funds is returning money provided by its investors, amid declining fees, rising costs and lacklustre performance. Founder Michael Platt's decision to close BlueCrest Capital Management, which had $8bn (£5.3bn) under management, will enable him to look after the money of the firm's partners and employees. The shock move [...]
Greene King share price jumps as profits rise and Spirit integration takes place “ahead of plan” December 2, 2015 Brewery Greene King had a strong six months to mid-October, after successfully integrating its latest purchase into the business. The figures During the 24 weeks to 18 October, Greene King's pre-tax profit rose by 46.9 per cent to £121.3m, driven mostly by its acquisition of pub group Spirit Pub Company for £774m in July. It [...]
Moneysupermarket share price drops as founder Simon Nixon reveals plans to leave as he sells £98m-worth of shares December 2, 2015 Moneysupermarket's share price fell this morning as it was revealed founder Simon Nixon is stepping down from the company he set up in 1993, having just sold off a further 32m shares in the business. The entrepreneur is presumably feeling pretty epic. The sale of the shares, which represented around 5.8 per cent of Moneysupermarket's [...]
Findel one step closer to blocking Sports Direct’s plan to shake up board, as shareholderse Toscafund, Schroders and River & Mercantile agree to vote against resolution December 2, 2015 At least three of Findel's major shareholders have said they will vote against a resolution that would put a Sports Direct-nominated director on the company board, taking the total number of votes expected to go against the move to nearly 44 per cent. Sports Direct (SDI) took a 19 per cent stake in the company, which [...]